Productivity up, wage growth....negative.

From the Washington Monthly. You would think that productivity growth = wages growth. Well, that is to say if you believe the party line that working harder results in more profits that will result in a bigger raise. Wait...what's that....you want me to drink what?

Kevin Drum provides some "snarky" comments:
http://www.washingtonmonthly.com/archives/individual/2005_12/007709.php

To be fair, wage growth is negative relative to inflation (including energy prices) and likely includes the effects of Katrin and Rita. Of course, from that perspecitve my wages have been on a negative growth path for 4 years. Excluding a job change and one great raise year at my first job my wage growth has been negative since I graduated from engineering school. Now, if I factor in that my wages only went up during my job change because of my Master's degree and then subtract the cost of obtaining that degree......Oh dear...seems my boss just told me raises next year will be delayed 6 months and the company is copping out of 401(k) contributions. Good thing they paid out a record dividend to shareholders this year.